Stocks of Real estate sector lead gains on Tuesday morning hours after RERA (Real Estate Regulation Act) came into effect on May 1. The BSE Realty Index was trading at 1956.25 with 1.68% up at post morning hours.
Sobha Limited share price was up 7.22% at Rs 398.5, while India Bulls Real Estate was registering 2.6% up at Rs 153.65. Shares of Godrej Properties were up 3.89% at Rs 482.05, going parallel to Prestige Estates Projects which is going up 1.85% at Rs 240, DLF limited up 1.48% at Rs 188.75.
The Real Estate Regulation Act is expected to revitalize the realty sector by making it more transparent and accountable. On April 6, the RBI during its last policy meet permitted banks to invest in infrastructure investment trusts (InvITs) and real estate investment trusts (REITs).